The Standard Model of Trade and the Marshall – Lerner Condition
The Standard Model of Trade and the Marshall – Lerner Condition
There are similarities between standard trade model and Marshall-Lerner condition. However, in order to see whether the condition can work both ways (with decrease and increase of the currency exchange rate), and the properties of this model could be thoroughly utilized, the revaluation case is being considered. The J-curve effect is also being examined. Looking at further research ideas, the Marshall–Lerner condition could be a complimentary tool in explaining the standard model.
eISSN 2544-0659
Productivity Analysis, International Relations/Trade, standard trade model, elasticities, revaluation, balance of trade, Research Methods/ Statistical Methods, Marshall-Lerner condition
Productivity Analysis, International Relations/Trade, standard trade model, elasticities, revaluation, balance of trade, Research Methods/ Statistical Methods, Marshall-Lerner condition
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